Individual Whole Life
The Product
A Whole Life policy pays a Death Benefit when the insured person dies. A Cash Value will be paid if the policy is surrendered prior to death. Participating Whole Life policies pay dividends based on the insurance company’s results for similar policies in the participating fund.
Assuris’ Protection
If your life insurance company fails, your Whole Life policy will be transferred to a solvent company.
- On transfer, Assuris guarantees that you will retain up to $200,000 or 85% of the promised Death Benefit, whichever is higher.
- On transfer, Assuris guarantees that you will retain up to $60,000 or 85% of the Cash Value, whichever is higher.
- On transfer, dividends will continue to be paid. However, the level of dividends may be adjusted.
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Associated Accounts
Whole Life policies may also have associated deposit type accounts. These may be used to hold pre-paid premiums or accumulated cash dividends. These deposit type accounts receive Assuris
Accumulated Value Protection.
Associated Benefits
Whole Life insurance may have other benefits and riders added to the policy. For information on how other benefits and riders are protected
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Questions and Answers